Deals
Columbia Joins Blackstone in Retail Hedge Fund Initiative
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Columbia Management, which oversees more than $350 billion, is joining with Blackstone Group LP to increase retail investors’ access to hedge fund strategies.
Blackstone Alternative Asset Management agreed to research and develop an investment offering, according to a statement today from the Columbia business at Ameriprise Financial Inc. Class A shares of the mutual fund will be available to the general public with a minimum initial investment of $2,000 for most buyers, and the maximum sales charge is listed as 5.75 percent, according to a prospectus. Blackstone funds will be included as part of Columbia’s offerings.